More on hedge funds and pensions

The chief investment officer at San Diego County’s beleaguered pension fund has resigned after the fund lost more than $2.6 billion and invested millions in a hedge fund whose owners were arrested for fraud. Here’s my story on what happened at yesterday’s dramatic board meeting. The board is raising sharp questions about some of the issues I raised in my story earlier this week on the WG Trading scandal. One important question: Why isn’t the fund helping law enforcement?